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Chances of getting a mortgage, after buying a BTL property

lukemack
lukemack Posts: 3 Newbie
Ninth Anniversary First Post Combo Breaker
in Mortgages & endowments
Hey not sure if I'm posting this in the right section as I'm a new user but here goes anyway haha..

I'm looking at buying a house for around £45,000 with a Buy to let mortgage that is currently has a tenant paying £475pcm

But I'm also hoping to buy my own house shortly after for around £68-£75k, what are the chances of being accepted for a mortgage on this property with a 20% deposit?

I currently earn around £42-£48k a year and have hardly any outgoings etc

Thanks for any advice

Comments

  • kingstreet
    kingstreet Posts: 39,456 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Should be fine.

    Many lenders allow a self-financing BTL without it affecting affordability for a residential purchase.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • lukemack
    lukemack Posts: 3 Newbie
    Ninth Anniversary First Post Combo Breaker
    Cheers kingstreet

    I've been unsure, if I wouod be able to attain a second mortgage so soon after the first
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